MIRA INFORM REPORT

Report No. :	324125
Report Date :	26.05.2015

IDENTIFICATION DETAILS

Name :	KAMANI OIL INDUSTRIES PRIVATE LIMITED
Registered Office :	Pooran Asha Building, Ground Floor, 317, Narsi Natha Street, Mumbai – 400009, Maharashtra
Tel. No.:	91-22-28478811/ 39970100
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.10.2002
Com. Reg. No.:	11-137681
Capital Investment / Paid-up Capital :	Rs. 127.500 Million
CIN No.: [Company Identification No.]	U15140MH2002PTC137681
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCK4395B
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of refining of crude edible oil and manufacturing of Vanaspati, Bakery Shortenings, and specialty fats and is also engaged in trading of various edible oil products
No. of Employees :	40 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company has progressed well during FY2014. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating (BBB)
Rating Explanation	Moderate degree of safety and carry moderate credit risk.
Date	25.08.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating (A3+)
Rating Explanation	Moderate degree of safety and carry higher credit risk.
Date	25.08.2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. George
Designation :	Senior Executive
Contact No.:	91-22-28478811
Date :	23.05.2015

LOCATIONS

Registered Office :	Pooran Asha Building, Ground Floor, 317, Narsi Natha Street, Mumbai – 400009, Maharashtra, India
Tel. No.:	91-22-28478811/ 39970100
Fax No.:	91-22-28478805
E-Mail :	info@kamani.com heman@kamani.com
Website :	www.kamani.com
Location :	Owned
Administrative Office :	Chandavali Estate, Saki Vihar Road, Saki Naka, Mumbai – 400072, Maharashtra, India
Tel. No.:	91-22-39970100
Fax No.:	91-22-28478805
Factory :	Honda Village, Takai Adoshi Road, Post Sajgaon, Khalapur, Khopoli Raigad – 410203, Maharashtra, India
Tel. No.:	91-21-92305300
Fax No.:	91-21-92305405
Branch Office :	Located at Pune Nagpur Udaipur Hyderabad Ahmedabad Tamilnadu

DIRECTORS

As on: 22.07.2014

Name :

Mr. Tarachand Bodaram Chawla

Designation :

Managing Director

Address :

87, Jivan Niwas, 3^rd Floor, A G K Road, Worli Sea Face, Worli, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

17.12.1939

Date of Appointment :

22.07.2014

PAN No.:

AABPC1545R

DIN No.:

00763180

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999MH1962PTC012324	Chawla Brothers Private Limited	Director	01/10/1963	01/10/1963	-	Active	No
2	U45200MH1992PTC067967	Karuna Builders Private Limited	Director	31/07/1992	31/07/1992	-	Active	No
3	U15100MH1982PTC028058	Kamani Oils (India) Private Limited	Director	01/05/1993	01/05/1993	-	Active	No
4	U15140MH2002PTC137681	Kamani Oil Industries Private Limited	Managing Director	22/07/2014	24/10/2002	-	Active	No
5	U45200MH2005PTC157897	Shiv Sharan Realtors Private Limited	Director	08/12/2005	08/12/2005	-	Active	No
6	U45200MH2007PTC172125	Prettybuilt Developers Private Limited	Director	05/07/2007	05/07/2007	-	Active	No

Name :

Mr. Murlidhar Ghanshamdas Hemdev

Designation :

Additional Director

Address :

C-411, Raj Umang 2, Rawal Pada, Cross Road, Opposite S.V.C. Bank, Dahisar East, Mumbai-400068, Maharashtra, India

Date of Appointment :

12.11.2014

DIN No.:

07004403

Name :

Mr. Rajasekar Ramaraj

Designation :

Director

Address :

1-D Aum Apartments, 26, Kothari Road, Nungambakkam, Chennai - 600034, Tamilnadu, India

Date of Birth/Age :

16.02.1950

Date of Appointment :

18.02.2012

DIN No.:

00090279

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L22213TN1995PLC031845	Universal Print Systems Limited	Director	28/06/1995	28/06/1995	10/02/2014	Active	No
2	U92413MH2001NPL235014	Foundation For Promotion Of Sports And Games	Director	20/09/2001	20/09/2001	-	Active	No
3	U65929TN2002NPL048472	Microcredit Foundation Of India	Director	24/02/2004	24/02/2004	06/03/2012	Active	No
4	U65929TN2005PLC057390	Madura Micro Finance Limited	Director	02/09/2005	02/09/2005	-	Active	No
5	U74910TN2006PLC059763	Coaching Foundation India Limited	Director	27/10/2007	01/12/2006	-	Active	No
6	U72900TN2006PTC095670	Minglebox Communications Private Limited	Nominee Director	31/10/2007	13/12/2006	11/12/2012	Active	No
7	U35999TN1986PTC013156	Congruent Solutions Private Limited	Director	28/09/2007	19/12/2006	15/07/2012	Active	No
8	U72900MH2002PTC134544	Amber Services Private Limited	Nominee Director	17/01/2007	17/01/2007	18/02/2013	Active	No
9	U85110TN1999PTC043316	Sutherland Healthcare Solutions Private Limited	Director	27/09/2007	07/02/2007	08/03/2013	Active	No
10	U45200TN2006PTC065842	PVP Ventures Private Limited	Additional Director	20/02/2007	20/02/2007	-	Amalgamated	No
11	U93090MH2006PTC165633	Digital Signage Networks India Pvt. Ltd.	Nominee Director	29/04/2007	29/04/2007	02/08/2011	Active	No
12	U72500TN2007PLC063540	TVS-E Servicetec Limited	Director	29/08/2008	24/10/2007	-	Amalgamated	No
13	L30007TN1995PLC032941	TVS Electronics Limited	Director	01/04/2014	29/10/2007	-	Active	No
14	U74300KA2007PTC042023	Ideacts Innovations Private Limited	Nominee Director	05/09/2008	07/11/2007	16/05/2014	Active	No
15	L72300TN1991PLC020122	PVP Ventures Limited	Director	29/03/2008	04/12/2007	07/05/2008	Active	No
16	U80904KA2007PTC043359	Tutorvista Education India Private Limited	Director	20/08/2008	08/02/2008	29/08/2008	Amalgamated	No
17	U74140KA2001PTC029904	Mape Advisory Group Private Limited	Director	30/09/2009	09/01/2009	-	Active	No
18	L72200WB1987PLC043375	R S Software (India) Limited	Director	29/07/2009	01/05/2009	-	Active	No
19	U15140MH2002PTC137681	Kamani Oil Industries Private Limited	Director	18/02/2012	18/02/2012	-	Active	No
20	U72900KA2011PTC057594	Imerit Technology Services Private Limited	Director	13/09/2012	10/07/2012	-	Active	NO
21	L30006TN1995PLC031736	Accel Frontline Limited	Director	19/12/2012	31/10/2012	-	Active	No
22	U74900TN2009PTC072192	Villfarm Agrisolutions Private Limited	Director	30/09/2014	25/11/2013	-	Active	No
23	U72900KA2008PTC046964	Silvan Innovation Labs Private Limited	Additional Director	12/02/2015	12/02/2015	-	Active	No

Name :

Mr. Nandlal Hassanand Chawla

Designation :

Director

Address :

4A, Jivan Niwas, 87, Worli Sea Face, Mumbai 400030, Maharashtra, India

Date of Birth/Age :

09.06.1939

Date of Appointment :

01.04.2007

PAN No.:

AABPC1546N

DIN No.:

00763037

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999MH1962PTC012324	CHAWLA BROTHERS PRIVATE LIMITED	Managing director	15/03/1967	15/03/1967	-	Active	NO
2	U45200MH1992PTC067967	KARUNA BUILDERS PRIVATE LIMITED	Director	31/07/1992	31/07/1992	-	Active	NO
3	U15100MH1982PTC028058	KAMANI OILS (INDIA) PRIVATE LIMITED	Director	01/05/1993	01/05/1993	-	Active	NO
4	U15140MH2002PTC137681	KAMANI OIL INDUSTRIES PRIVATE LIMITED	Director	01/04/2007	24/10/2002	-	Active	NO
5	U45200MH2005PTC157897	SHIV SHARAN REALTORS PRIVATE LIMITED	Director	08/12/2005	08/12/2005	-	Active	NO
6	U74900MH2007PLC171386	ALL INDIA LIQUID BULK IMPORTERS AND EXPORTERS ASSOCIATION	Director	07/06/2007	07/06/2007	-	Active	NO
7	U45200MH2007PTC172125	PRETTYBUILT DEVELOPERS PRIVATE LIMITED	Director	05/07/2007	05/07/2007	-	Active	NO
8	U45209PN2006PTC129112	SUKHWANI CHAWLA ERECTORS PRIVATE LIMITED	Additional director	09/10/2014	09/10/2014	-	Active	NO

Name :

Mr. Vinay Tarachand Chawla

Designation :

Director

Address :

3A, Jivan Niwas, 87, Worli Sea Face, Mumbai 400030, Maharashtra, India

Date of Birth/Age :

19.06.1976

Date of Appointment :

24.10.2002

PAN No.:

ABOPC7671E

DIN No.:

00763078

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15140MH2002PTC137681	KAMANI OIL INDUSTRIES PRIVATE LIMITED	Director	24/10/2002	24/10/2002	-	Active	NO
2	U74999MH1962PTC012324	CHAWLA BROTHERS PRIVATE LIMITED	Director	02/05/2003	02/05/2003	-	Active	NO
3	U45200MH2007PTC172125	PRETTYBUILT DEVELOPERS PRIVATE LIMITED	Director	05/07/2007	05/07/2007	27/06/2011	Active	NO

Name :

Mr. Prakash Nandlal Chawla

Designation :

Director

Address :

4A, Jivan Niwas, 87, Worli Sea Face, Mumbai 400030, Maharashtra, India

Date of Birth/Age :

21.12.1963

Date of Appointment :

24.10.2002

PAN No.:

AABPC2796E

DIN No.:

00763147

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999MH1962PTC012324	CHAWLA BROTHERS PRIVATE LIMITED	Director	08/01/1996	08/01/1996	-	Active	NO
2	U15100MH1982PTC028058	KAMANI OILS (INDIA) PRIVATE LIMITED	Director	02/09/1997	02/09/1997	-	Active	NO
3	U15140MH2002PTC137681	KAMANI OIL INDUSTRIES PRIVATE LIMITED	Director	24/10/2002	24/10/2002	-	Active	NO
4	U45200MH2007PTC172125	PRETTYBUILT DEVELOPERS PRIVATE LIMITED	Director	05/07/2007	05/07/2007	-	Active	NO

Name :

Mrs. Sangeeta Purushottam

Designation :

Director

3202, Tower -2 Aqua, Planet Godrej, Keshav Rao Khadve Marg, Near Saat Rasta,, Mumbai-400011, Maharashtra, India

Date of Birth/Age :

21.07.1963

Date of Appointment :

18.02.2012

DIN No.:

01953392

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909DL2007PLC159042	RELIGARE CAPITAL MARKETS LIMITED	Director	18/09/2008	11/12/2007	28/05/2010	Active	NO
2	U65993MH2007PTC175592	NINE RIVERS CAPITAL HOLDINGS PRIVATE LIMITED	Managing director	01/07/2011	22/06/2011	29/08/2012	Active	NO
3	U15140MH2002PTC137681	KAMANI OIL INDUSTRIES PRIVATE LIMITED	Director	18/02/2012	18/02/2012	-	Active	NO
4	L51909MH1982PLC143066	PODDAR DEVELOPERS LIMITED	Additional director	14/11/2014	14/11/2014	-	Active	NO
5	AAB-7075	COGITO ADVISORS LLP	Designated Partner	14/08/2013	14/08/2013	-	Active	NO
1	U51909DL2007PLC159042	RELIGARE CAPITAL MARKETS LIMITED	Director	18/09/2008	11/12/2007	28/05/2010	Active	NO

KEY EXECUTIVES

Name :	Mrs. Shradha Mahesh Lakhotia
Designation :	Secretary
Address :	C-109, Shetrunji Apartment, Sahakar Gram, Kandivali East, Mumbai - 400101, Maharashtra, India
Date of Appointment :	07.04.2014
PAN No.:	AHYPL3730H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 22.07.2014

Names of Shareholders (Equity Shares)	No. of Shares
Tarachand B. Chawla	109126
Nandlal H. Chawla	95546
Jyoti Chawla	106050
Prakash N Chawla	104356
Vinay T. Chawla	294819
Geeta N. Chawla	25452
Jaya P. Chawla	23331
Prakash N Chawla ( HUF)	23331
Devendra P. Chawla	21210
Samrath P. Chawla	21210
Sunil N. Chawla	106477
Karuna S. Chawla	23331
Sunil N. Chawla (HUF)	23331
Harshvardhan S. Chawla	21210
Pranav S. Chawla	21210
Bodaram Sons, India	10
International Finance Corporation, Washington, DC	255000
	1275000

Equity Share Break up (Percentage of Total Equity)

As on: 22.07.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	20.00
Directors or relatives of Directors	80.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of refining of crude edible oil and manufacturing of Vanaspati, Bakery Shortenings, and specialty fats and is also engaged in trading of various edible oil products
Products/ Services :	Refining of crude edible oil Vanaspati Bakery Shortenings Specialty fats.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

40 (Approximately)

Bankers :

Bank Name	Bank of India
Branch	Kolhapur Branch
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Bank Name	The Ratnakar Bank Limited
Branch	Shahupuri, Kolhapur, Vypari Peth, Kolhapur - 416001, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	0.000	44.800
Other loans and advances	5.300	0.700
Total	5.300	45.500

Auditors :
Name :	V. Sankar Aiyar and Company Chartered Accountants
Address :	2-C, Court Chambers, 35, New Marine Lines, Mumbai – 400020, Maharashtra, India
PAN No.:	AAAFV0781D
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Bodaram Sons Nandlal H. Chawla (Karta of Nandlal H. Chawla HUF) Prakash N. Chawla (Karta of Prakash N. Chawla HUF) Sunil N. Chawla (Karta of Sunil N. Chawla HUF) Chawla Brothers Private Limited

CAPITAL STRUCTURE

As on 22.07.2014

Authorized Capital:

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.100/- each	Rs.150.000 Millions
2550000	Preference Shares	Rs.100/- each	Rs.255.000 Millions
	Total		Rs. 405.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1275000	Equity Shares	Rs.100/- each	Rs.127.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	127.500	357.000	357.000
(b) Reserves & Surplus	742.100	392.400	406.600
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	869.600	749.400	763.600
(3) Non-Current Liabilities
(a) long-term borrowings	124.100	161.200	237.400
(b) Deferred tax liabilities (Net)	40.700	31.000	51.800
(c) Other long term liabilities	0.000	0.000	2.700
(d) long-term provisions	7.300	5.900	0.000
Total Non-current Liabilities (3)	172.100	198.100	291.900
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2183.400	1444.800	1223.400
(c) Other current liabilities	149.100	168.600	156.900
(d) Short-term provisions	11.800	10.100	5.100
Total Current Liabilities (4)	2344.300	1623.500	1385.400
TOTAL	3386.000	2571.000	2440.900
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	617.000	689.700	773.200
(ii) Intangible Assets	3.400	2.400	0.300
(iii) Capital work-in-progress	2.500	1.500	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.100	0.100	0.100
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	29.700	41.800	32.100
(e) Other Non-current assets	8.700	26.300	26.200
Total Non-Current Assets	661.400	761.800	831.900
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1826.400	1014.200	925.300
(c) Trade receivables	505.500	404.600	423.600
(d) Cash and cash equivalents	309.900	361.100	219.500
(e) Short-term loans and advances	59.900	17.900	24.400
(f) Other current assets	22.900	11.400	16.200
Total Current Assets	2724.600	1809.200	1609.000
TOTAL	3386.000	2571.000	2440.900

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	8875.000	9423.000	8982.034
		Other Income	26.300	56.300	23.383
		TOTAL	8901.300	9479.431	9005.417
Less	EXPENSES
		Office Expenses
		Administrative Expenses	8609.300	9412.000	8922.922
		Advertising Expenses
		TOTAL	8609.300	9412.000	8922.922
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		292.000	67.300	82.495
Less/ Add	DEPRECIATION/ AMORTISATION		103.600	101.300	116.286
	PROFIT / (LOSS) BEFORE TAX		188.400	(34.000)	(33.791)
Less	TAX		68.200	(19.900)	(21.350)
	PROFIT / (LOSS) AFTER TAX		120.200	(14.100)	(12.441)
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		234.800	249.000	261.444
	BALANCE CARRIED TO THE B/S		355.000	234.800	249.003
	IMPORTS
		Raw Materials	4075.200	4771.000	4699.400
		Capital Goods	1.400	0.300	0.500
	TOTAL IMPORTS		4076.600	4772.100	4699.900
	Earnings Per Share (Rs.)		94.27	(3.97)	(3.48)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	24.800	90.900	91.888
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.35	(0.15)	(0.14)
Operating Profit Margin (PBIDT/Sales)	(%)	3.29	0.71	0.92
Return on Total Assets (PBT/Total Assets}	(%)	5.57	(1.32)	(1.38)
Return on Investment (ROI) (PBT/Networth)		0.22	(0.05)	(0.04)
Debt Equity Ratio (Total Debt /Networth)		0.17	0.34	0.43
Current Ratio (Current Asset/Current Liability)		1.16	1.11	1.16

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	357.000	357.000	127.500
Reserves & Surplus	406.600	392.400	742.100
Net worth	763.600	749.400	869.600
long-term borrowings	237.400	161.200	124.100
Short term borrowings	0.000	0.000	0.000
Current Maturities of Long Term Debt	91.888	90.900	24.800
Total borrowings	329.288	252.100	148.900
Debt/Equity ratio	0.431	0.336	0.171

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	8982.034	9423.000	8875.000
		4.909	(5.816)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	8982.034	9423.000	8875.000
Profit/ Loss	(12.441)	(14.100)	120.200
	(0.14%)	(0.15%)	1.35%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	-
5	Buyer visit details	--
6	Contact numbers	No
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	No
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	No
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	No
33	Market information	No
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

FINANCIAL PERFORMANCE

Their gross profit amounted to Rs.850.000 Million as against Rs.500.000 Million in the previous year recording a growth of 70%. Profit before depreciation and tax has increased to Rs.290.000 Million (3.27% of total sales) as against Rs.70.000 Million in the previous year (0.74% of total sales). Key Highlights Strengthened access with institutional customers with new products and new customer’s Implemented Go-to-Market for bakery fats that has been successfully launched in May2014. They filed 2 patents for innovation in fat which represents significant breakthrough for our Rand D team. They have a robust pipeline for new products, some of them have been marketed in 13-14 (details below). Riso has achieved a market share of 23% in 2013-14.

New Products:

The demand for differentiated and high quality food products is growing and consumers are looking for tastier products with health benefits. The company is conducting a lot of developmental activity in terms of new products and applications. They have introduced the following products during 2013-14:

Bakery

K Cookiez Bakery shortening for cookies and biscuits

Tasteepuff Vanaspati for puffs/khari

Cakelite margarine (Trans free) - for cakes, muffins

Pufflite bakery shortening (Trans free) for puffs, croissants

K-Puff (Low Trans) Vanaspati- for puffs/khari

Confectionery

Chokita HS for molded chocolates

Koatina 414 (HS) for enrobing/coating application

K-315 Vanaspati - for flavors and candies/toffees, etc. (Konfex replacer)

Kamani N Vanaspati For toffees/candies, etc. (K Care replacer)

KCP 25 for making choco paste for Centre filling of biscuits

LTCBR (HS) for enrobing/molded chocolates

The company Standalone Balance Sheet for period 01/04/2013 to 31/03/2014

Other specialty

KF 381 Vanaspati (Trans free) fat flakes (culinary application for pizza base)

Kosmic HS For peanut butter, emulsifiers, as wax replacer, chewing gum application.

The company has set target to excel in quality of products supplied and services offered to our esteemed customers and achieve customer delight in each account. They have strengthened our market access in all segments we operate in and particularly with the large scale institutions. They added significant new customers in this year.

MANAGEMENTS ANALYSIS ABOUT RISK AND CONCERNS:

The company, is engaged in a business which is exposed to commodity price volatility, exchange rate fluctuations, government regulations and pressures of competition. All these factors are totally unpredictable. Due to speculative nature of edible oils and heavy fluctuations in commodity prices and forex, the company takes adequate steps to minimize risk on account of volatility of prices of edible oil and foreign exchange fluctuations. The last year has been challenging for the company mainly due to tremendous fluctuation in the price of USD and in palm kernel prices which is a key raw material for manufacture of specialty fats.

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties	118.800	115.700
Total	118.800	115.700

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10472221	17/12/2013	600,000,000.00	THE RATNAKAR BANK LIMITED	SHAHUPURI,KOLHAPUR, VYPARI PETH, KOLHAPUR - 416001, MAHARASHTRA, INDIA	B94265394
2	10121127	23/01/2012 *	3,152,500,000.00	BANK OF INDIA	NARIMAN POINT LARGE CORPORATE BRANCH, 92 - 93, FREE PRESS HOUSE, 9TH FLOOR,215, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	B34527580
3	10121128	30/01/2012 *	3,152,500,000.00	BANK OF INDIA	MANDVI BRANCH , KANMOOR HOUSE , 281/287 NARSI NATHA STREET, MUMBAI - 400009, MAHARASHTRA, INDIA	B34528646

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report: No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.62
UK Pound	1	Rs.98.51
Euro	1	Rs.69.93

INFORMATION DETAILS

Information Gathered by :	RKA
Analysis Done by :	DIV
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.